“The teenage hacker who managed to unlock the iPhone so that it can be used with cellular networks other than AT&T will be trading his reworked gadget for a new car,” The Associated Press reports.

“George Hotz, of Glen Rock, N.J., said he had reached the deal with CertiCell, a Louisville, Ky.-based mobile phone repair company,” AP reports.

“Hotz posted on his blog that he traded his modified iPhone for ‘a sweet Nissan 350Z and 3 8GB iPhones,’” AP reports.

Full article here.

We would have held out for a yacht.